Julio Moreno: Bitcoin's short-term on chain profit margin hits new high since December 2024

CryptoQuant research director Julio Moreno stated that Bitcoin's closing price last week was above the 365 day moving average, confirming the start of a new bull market. Bitcoin's upward momentum weakened after hitting a high of $87400, and the unrealized profit margin on the chain for short-term traders rose to 33%, the highest level since December 2024. (Source: The Block)